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. but the government's books will continue to be weighed down by heavy debt. that's even if plans go ahead to raise a sales tax. there's a one in three chance of a downgrade this fiscal year. this is as the japanese prime minister shinzo abe says he will consider changing the bank's mandate. he didn't comment on current policy. all this as investors determine who will become the bank of japan's next governor. front runners for the post include former bank of japan deputy governor and the head of the asian development bank harikahiko tura. >> we did catch up with taro at a meeting this weekend in moscow. the next boj governor was covered, but the first question, whether mr. aso thought the g-20 communique was an endorsement of japan's domestic stimulus plan. >> japan has repeatedly tried to explain that japanese policies are taken to overcome deflation and by all means, these are measures to overcome deflation as well as the recession. that's what is being said in the second paragraph of the communique. >> why do you feel, then, certainly from the g-7 communique that the off the record briefings con
. >> and president obama used his state of the union address to challenge a divided congress to make government work for the many. the president touched on a wide range of issues including gun control and immigration. his hour-long speech focused mainly on the economy. he's backing higher taxes on the wealthy, more spending on infrastructure, and manufacturing jobs. the president also proposed hiking the u.s. minimum wage to $9 an hour, tying it to the cost of living increase. he also urged lawmakers to resolve the budget battle that will result in billions of dollars in automatic spending cuts on march 1. >> let's set party interest aside and work to pass a budget that replaces reckless cuts with smart savings and wise investments in our future. let's do it without the brinksmanship that stresses consumers and scares off investors. the greatest nation on earth -- [ applause ] >> the greatest nation on earth cannot keep conducting its business by drifting from one manufactured crisis to the next. [ applause ] >> we can't do it. >> and on foreign policy, the president says he'll withdraw about half t
it was so sue french firm comigel. on saturday, both the uk and french governments vowed to punish those responsible. stephane is in paris following the story for us. stephane, at fist it seemed to be a story about britain and maybe some snickering across the atlantic or outside of the country. but now it's come home to roost. >> absolutely there are more than one country involved. six french retailers have decided to suspend the selling of frozen meat, frozen food containing potentially horse meat instead of beef. several products have been pulled on the concern that they were mislabeled. the french minister spoke about the large frozen foods market. this might have started last year and generated profits of only 00,000 euros. this is raising not only a problem about horse meat because in france there is no taboo about horse meat, it's not fashionable any more to eat horse meat in the country, but it is raising concerns about the traceability and about the food in france. there is a significant -- immigration within the country. and with the concerns about the efficiency of the control,
. >> is the biggest risk to gold, though, is when yields, government bond yields back up and then when we get a return of a yield environment, isn't that when gold is going to step up? because then the opportunity cost of holding it shoots through the roof. >> absolutely. i think that definitely causes head wednesday. but you have to look at the big picture. and as long as we've got the debt problems, particularly in the u.s. and also in europe, there are concerns about currency debasement and the idea that it's going to be very difficult for these country is to pay back their debt without at some point driving inflation higher, i think there are a lot of core investors, a lot of long-term strategic investors including central banks. look at the russian states were recently that i think are going to want to hold gold because we're in a very special environment with the world's major developed economies that are backing the world's major reserve currencies having structural debt issues. and i think a lot of investors are looking at gold as an alternative hard currency. >> that's for sure, nicholas broo
. >>> the japanese government is insisting on japanese expansion than everyone is talking. we'll have analysis when we come back. to grow, we have to boost our social media visibility. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that? he won a contest online to be ceo for the day. how am i supposed to run a business here without an office?! [ male announcer ] fast, reliable deliveries worldwide. fedex. to deposit checks from anywhere. [ wind howling ] easier than actually going to the bank. mobile check deposit. easier banking. standard at citibank. makes it easy for anne to manage her finances when she's on the go. even when she's not going anywhere. citibank for ipad. easier banking. standard at citibank. >>> as france's economy contracts for the fourth quarter of 2012, joining us from singapore, marco devali.
-week low against the euro/dollar. dollar/yen, 92.36. and we've got the mexico central bank govern warning against using fx. mexico was one of those countries that are the lead active in the currency manipulation or currency war. he says devaluing fx raises the risk of global retaliation. it's one of the big themes at the g-20 in moscow. steve is there, as well. steve, we've been hearing from mario draghi on this subject this morning, as well. what did you have to say? >> well, i thought this was great. the press conference of morrow draghi, the president of the ecb saying it's inappropriate, it's fruitless and self-defeating to talk about currency wars. i can't help but get all billy joel over this. it was the policymakers who started talking about communiques and briefings against each other about what they were actually trying to say. i'm afraid to say, mr. draghi, we didn't start this buyer. it was your colleague and your peers in the central bank, as well. moving on, he was saying -- and i thought this was great. some asked him about the appropriate level for the euro which is exactly
Search Results 0 to 5 of about 6